Incinerator Market to Reach $22.6 Bn, Globally, by 2031 at 4.2% CAGR: Allied Market Research
Rapid rise in hazardous and non-hazardous wastes due to the growing population and increase in industrialization in emerging economies drive the global incinerator market. By end user industry, the municipal segment held the largest market share in 2021 and would dominate through 2031.
PORTLAND, Ore., Sept. 22, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Incinerator Market by Product Type (Rotary Kiln, Fluidized Bed, Liquid Injection, Others), by Operation (Controlled Air Incinerators, Excess Air Incinerators), by End User Industry (Minicipal, Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global incinerator market industry generated $14.8 billion in 2021, and is estimated to reach $22.6 billion by 2031, witnessing a CAGR of 4.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers and Opportunities
Rapid rise in hazardous and non-hazardous wastes due to the growing population and the increase in industrialization in emerging economies drive the growth of the global incinerator market. However, the high upfront cost of incinerators hamper the market growth. On the other hand, advancements in technology that enables operators to effectively collect CO2 from the exhaust of incinerators offer lucrative growth opportunity for the market.
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic hampered the growth of the incinerator market, owing to restrictions on manufacturing activities. Moreover, incinerators could not be effectively installed in industries and municipal facilities through OEMs during the lockdown period.
- However, the medical sector prevented the market from taking a steep dive, and kept some demand alive. Moreover, owing to the introduction of various vaccines, the severity of COVID-19 pandemic significantly reduced.
- By mid-2022, the number of COVID-19 cases came down significantly, leading to the reopening of incinerator manufacturing companies at their full-scale capacities. Furthermore, many companies already shown notable signs of recovery since the outbreak of this pandemic.
The rotary kin market segment to rule the roost during the forecast period
Based on product type, the rotary kin segment was the largest market in 2021, contributing to nearly half of the global incinerator market, and is expected to maintain its leadership status during the forecast period, owing to its cost effectiveness. However, the liquid injection segment is projected to witness the largest CAGR of 5.0% from 2022 to 2031, owing to its effectiveness in disposing aqueous and non-aqueous wastes.
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The controlled air incinerators segment to maintain its dominance during the forecast period
Based on operation, the controlled air incinerators segment held the largest market share of nearly three-fifths of the global incinerator market in 2021, and is expected to maintain its dominance during the forecast period, owing to its extensive use in municipal and industrial applications. However, the excess air incinerators segment is projected to witness the largest CAGR of 4.5% from 2022 to 2031, owing to its cost effectiveness.
The municipal segment to maintain its dominance during the forecast period
Based on end user industry, the municipal segment held the largest market share of nearly 90% of the global incinerator market in 2021, and is expected to maintain its dominance during the forecast period, owing to the effectiveness of incinerators in solid waste disposal. However, the industrial segment is projected to witness the largest CAGR of 4.8% from 2022 to 2031. This is due to the increased demand for heat treatment in various manufacturing industries.
Asia-Pacific to dominate the market by 2031
Based on region, Asia-Pacific was the largest market in 2021, capturing around two-fifths of the global incinerator market, and is expected to lead the trail during the forecast period, owing to large waste generation in the region. However, LAMEA is projected to manifest the fastest CAGR of 5.2% during the forecast period, owing to the rapid growth of population in the region.
Leading Market Players
- Eco Concepts
- ACS Inc.
- Alfa Therm
- Atlas Incinerator ApS
- Babcock and Wilcox Co.
- ChuwaIndustrial Corporation
- Dutch Incinerators
- EEW Energy
- Haat Incinerator India Pvt. Ltd.
- Incinco Ltd.
- Inciner8 Limited
- Keller Manufacturing, Inc.
- Ketek Group
- Maximus Envirotech Pvt. Ltd.
- Shandong Better Environmental Protection Technology Co., Ltd.
- Vikas Incinerator
- WasteSpectrum Incineration Systems
The report provides a detailed analysis of these key players of the global incinerator market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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